Florida Department of Financial Services: CFO Jimmy Patronis – Flood Insurance Solution Must Include Mitigation

TALLAHASSEE, Florida, Nov. 19 -- The Florida Department of Financial Services issued the following news release:

With only days left until the National Flood Insurance Program (NFIP) is set to expire, Florida Chief Financial Officer (CFO) Jimmy Patronis urges federal leaders to include a flood mitigation requirement as they seek long-term solutions for the Florida subsidized program.

"Our state has been the leader when it comes to flood mitigation and fostering private market solutions. As the top donor state to the NFIP, Florida can't continue to subsidize a broken national system of building back time and time again in high-risk flood areas. Bad building practices of other states shouldn't be our problem.

"Adopting policies similar to Florida's that pave the way for a healthy private flood insurance market is essential, but more needs be done. Congress must include a robust flood mitigation component to the NFIP and do so now. Delaying just to deal with the same problems later will be a disaster for Florida."